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Little 'Imperial' Ukraine plunders Moldova as the EU cheers

April 12th, 2017 - Fort Russ News -

- analysis by James Harmon for FRN -

It's well known that the most obvious is the most unnoticeable. So if you want to hide something - put it in the most prominent place. In our investigation into the workings of the criminal oligarchs who run Ukraine and much of Moldova, we have uncovered a scheme which those fair-weather anti-corruption 'activists' in the EU west should be well aware.

This principle of hiding in plain sight guides the work of the Ukrainian authorities, who are tricking and robbing their people for several years in a row, so impudently and blatantly that no one yet notices it. No one notices their plundering of the western tranches either, in close cooperation with local oligarchs.

This is just a day in the life of "independent Ukraine", which seeks pillage and plunder other states, “which have embarked on the path of Europe”. In particular we are talking about Moldova and its shadowy helmsman - leader of the Democratic Party, oligarch V. Plahotniuc.

As is known, since April 1st, 2017, Chisinau has replaced its old electricity importer for the Ukrainian DTEK Trading. The DTEK group of companies belongs to the Ukrainian oligarch R. Akhmetov, and supervises the energy branch of his business - from coal mining to the sale of energy produced by controlled TPPs.

Previously, electricity was supplied to Moldova by Tiraspol through the intermediation of Energocapital company, controlled by V. Plahotniuc.

Presidents of Moldova I. Dodon and PMR - V. Krasnoselsky, insisted on the abolition of the mediation scheme. However, V. Plahotniuc did not agree to lose this large income and turned towards Ukraine, replacing one intermediator with another, and enlisting the support of the tandem "R. Akhmetov - P. Poroshenko ".

In February 2017, Prime Minister of Moldova P. Philippe held a meeting with his Ukrainian counterpart V. Groisman (who is controlled by the President of Ukraine P. Poroshenko), at which they dotted their i's and crossed their t's.

While Ukraine is trying to cope with its emergency situation in the energy sector, the people are preparing for rolling blackouts, and the largest industrial enterprise in order to avoid collapse has imposed a policy of voluntary restriction of energy consumption, the country's leadership then finds surpluses and sells them to Europe (!).

Ukrainian rulers are unable to give up the opportunity to steal budget money and financial aid from the West, even if this means it is shared not with one but with two oligarchs. The scheme reeks of robbery.

In the contract with Moldova, Ukraine relies on nuclear power. Despite the announced state of emergency, the country still has a surplus of electricity due to the operation of the nuclear power plant. At the same time, P. Poroshenko, R. Akhmetov and V. Plakhotnyuk understand that in May-June the country will face balance restrictions of nuclear power units, which will be marked off as planned repairs. At the South-Ukrainian NPP, a water deficit is possible, which will also make adjustments necessary to the plant's operation.

And at this point in the game will come R. Akhmetov, controlling more than 80% of the thermal power generation of Ukraine. We will remind readers that according to Ukrainian legislation, the producer of electric power has no right to independently export it. All manufacturers are obliged to sell their product to the state-owned enterprise Energorynok. Then SE "Energorynok" sells electricity to the exporter company that won the relevant contract.

Taking into account the cost of electricity generated by thermal power, and the legally fixed export tariffs, we can conclude the following: The thermal power plants of DTEK (the manufacturer) sells the energy of the State Enterprise "Energorynok" at 1600 UAH ($ 59) per MWh, DTEK Trading (exporter) buys electricity from "Energorynka" at 1100 UAH. ($ 41) per MWh and sells to Moldova at a price of $ 50.2 (1350 UAH at the current rate).

A simple calculation shows the profits of the trinity (R. Akhmetov, P. Poroshenko, V. Plahotniuc) at 750 UAH or $ 28 with 1 MW of electricity. The figure increases if one is to consider compensation of the VAT (20%) from the budget of Ukraine.

With a high probability, the Ukrainian side will take subsidies of 1 billion of macro-financial aid allocated to Ukraine by the IMF. In whose pockets will the money will stay? The question obviously is rhetorical, but they obviously will not improve the disastrous financial situation of the Ukrainians.

The amount of 1 billion is very symbolic. V. Plakhotnyuk has already stolen his billion in Moldova. Next in line is the Ukrainian tranche, part of which P. Poroshenko and R. Akhmetov will share with the Moldovan oligarch. The scheme is so obvious, it practically glows like flare in the middle of Maidan Square. So obvious, it remains hidden in plain sight.